CapitaMalls Asia (CMA) said it has entered into an agreement to obtain a two-third stake in a S$747.2 million property project in Shanghai.
It said the shopping mall and office project in the Luwan district is expected to be completed by 2015.
CMA said the shopping mall would be well-positioned to serve affluent residents as well as working professionals in the area.
It added the proposed investment was not expected to have any material impact on its earnings for the financial year ending in December.
Source : Channel NewsAsia – 8 Nov 2010